Re:New cryptocurrency could potentially cause an SSD or hard...
by ChainOfFools on Saturday April 17, 2021 @03:50PM
(#26846926)
this is actually impossible because all cryptocurrencies necessarily start out maximally centralized, and "decentralize" gradually through the distribution model.
the problem is that this creates at best a concentric circular pattern of ownership (and thus leverage over liquidity), even if everyone involved is completely honest and ownership is 100% transparent. in reality it's far worse than that because pseudo anonymous address ownership means claims of "fair distribution" cannot be trusted let alone proven.
the problem is that this creates at best a concentric circular pattern of ownership (and thus leverage over liquidity), even if everyone involved is completely honest and ownership is 100% transparent. in reality it's far worse than that because pseudo anonymous address ownership means claims of "fair distribution" cannot be trusted let alone proven.
decentralization is a mirage.